Blog
What’s an escalation clause?
Whether you’re buying or selling a home, you may come across what is known as an escalation clause. Simply put, this practice increases your bid on a home by a specified amount whenever there is a competing bid. However as simple as it sounds, there are a lot of rules and intricacies to follow and know in order to use it correctly. (more…) ...
What’s the difference? Earnest money versus down payment
You’ve found the home you want to purchase and put some earnest money into it. But then you discover that you also must pay a down payment! What’s going on? Was the money you paid previously not the down payment? While earnest money is not the same as the down payment, they are entwined. Here’s what you need to know about earnest money versus a down payment: (more…) ...
Your guide to pet-friendly home buying
We love our pets and want the best for them. In fact, many pet owners buy homes in order to provide a good place to live for their furry friends. But purchasing a home with a pet is not often as simple as we like to think: There are a lot of details you must take into consideration for not only your benefit, but your pet’s as well. (more…) ...
Gifting a down payment to your adult child for their first home
According to the National Association of Realtors, parents gifting money to their children to help purchase a first home is a common experience. Gifting money is a type of down payment assistance that can help them realize their dreams of homeownership. (more…) ...
5 essential tips to save for an emergency
Emergencies occur when we least expect them, and to ensure long-term financial stability, it’s best to have a plan to weather them. When an emergency happens, be it a natural disaster, illness, or job loss, many people can find themselves struggling to keep up. Here are five essential tips to help you save for an emergency: (more…) ...
What determines the down payment on a home?
When you purchase a home, chances are you will put money down on it. This down payment is an up-front payment made in cash that is a percentage of the total home cost. This percentage is typically 20%, though it can vary based on your circumstances and loan program. Here’s what you should know about what determines your down payment: (more…) ...
What is a warranty of title, and how does it protect buyers?
When buying a home, your real estate agent and lender will research the home to ensure the integrity of the property. This includes not only inspections but title searches and what’s known as a warranty of title. A warranty of title is included in a warranty deed and used to transfer property and protect the buyer’s interest legally. (more…) ...
Understanding quitclaim deeds
In the event of divorce, marriage, or a non-sale transfer of a home, there’s the question of what to do with the mortgage. Whether you need to release an ex-spouse from their interest in the property, add a new spouse’s name, or transfer the property to a family member, you’ll need to file what’s called a quitclaim deed. (more…) ...
How to make and stick to a holiday budget
The holidays are coming up, and for many of us, that means extra spending and stretching the budget. If you’re looking to buy a home in the near future though, you don’t want to blow your down payment by overspending. Here’s some tips on how to keep it as stress-free as possible by setting a holiday budget and sticking to it. (more…) ...
What to do with a mortgage during a divorce
Divorce is stressful, and it can be easy to get overwhelmed, especially if you and your future ex-spouse bought a home and hold a mortgage together. Here are a few ways you can approach your mortgage during a divorce: Take your spouse off of your mortgage File a quitclaim deed Sell your home (more…) ...
The information provided herein has been prepared by a third party company and has been distributed for education purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.
Get Preapproved Now!
For low rates and expert advice call us now at (855) 997-7231 or apply online. Absolutely no obligation.